摘 要:2008年至今,全球经济环境异常复杂,欧债危机的延续,战争、自然灾害的不断发生等。尽管如此,世界股市并没有呈现出持续低迷或反复震荡的局势,唯有中国A股市场长期“熊霸全球”,从历史最高6429.68点跌至目前的2000点左右,其中虽有反弹,但仍然没有改变下跌疲软的局面。股票市场是经济的晴雨表,但在中国,股市却与经济背道而驰,相比之下,欧美甚至包括中国香港在内的主要经济体的股市早已恢复到甚至超过2008年次贷危机以前的水平,唯独A股市场“熊霸全球”,因此,研究A股市场(近期)低迷的经济政策背景以及经济政策对A股市场的影响,并从宏观层面提出相应措施有着重要的现实意义。
该论文旨在通过对中国A股市场相关资料的整理分析,首先通过对A股现状的概括,认识A股近期发展,然后通过A股与国际股市及国内实体经济的对比,阐明A股已经处于深度熊市,面对持续低迷的国内股市,人们容易联想到90年代日本的经济危机,本文通过对比与数据分析的方法,讨论近期中国与90年代日本的本质区别,消除人们对A股市场前景的担忧。既然中国股市没有重蹈覆辙,走日本的老路,面对股市的低迷,所以本文又从企业质量、估值水平、股价结构及投资回报等方面进行分析,讨论这四方面存在的问题,以求找出A股低迷的真正成因。最后,本文对未来的国家政策和个人投资方法及需要注意的问题提出建议。
综上,本文对A股市场近期持续低迷的成因及其对策进行研究,进而获得充分准确的分析结果,并通过数据分析和图表展示等方法,对A股市场近期“熊霸全球”的成因进行表象上的概括和深层的分析,从而得出A股市场近期低迷的成因与解决对策。
关键词:A股;熊霸全球;问题;对策
ABSTRACT:Since 2008, the global economic environment is very complex, and the continuation of the European debt crisis, war, natural disasters continue to occur. Nevertheless, the world's stock markets are not showing the situation which remains in the doldrums or repeated shocks, but only the Chinese A-share market dominated the world for a long time, from the highest 6429.68 points, fell to about 2000 points, although the rebound, but still don't change the weak situation. The stock market is a barometer of the economy, but in China, the stock market has run counter to the economic, compared to the major economies Europe and the United States and even including Hong Kong, China's stock market has long been restored to even more than the 2008 subprime crisis levels, the exception of A-share market "Bear tyrants the world", so to study the A-share market (recently) the impact of the downturn in the economic policy background and economic policies on the A-share market, and has important practical significance from the macro level corresponding measures.
The purpose of this paper is to be analyzed with the relevant information of the Chinese A-share market, first by a summary of the status of the A-share, recognizing the recent development of the A-share and A shares and international stock markets and the domestic real economy contrast to clarify the A shares in depth of the bear market, in the face of the domestic stock market remains in the doldrums, it is easy to think of the 1990s, Japan's economic crisis, this article by comparison with the data analysis methods discussed the recent essential difference between China and Japan in the 1990s to eliminate the concerns of the people on the A-share market prospects . Since China's stock market does not repeat the same mistakes, take the old road of Japan, the face of the downturn in the stock market, so this article and from the quality, valuation, the stock structure and return on investment analysis, to discuss these four aspects of the problems, in order to identify A shares downturn in the real causes. Finally, the future of national policies and individual investment approach and problems that need attention recommendations.
In summary, this article on the recent A-share market remains in the doldrums Causes and Countermeasures, and then get a full and accurate analysis results, and data analysis and chart show, Bear Pa global causes of the recent A-share market appearance on the broad and deep analysis to arrive at the A-share market's recent downturn causes of and countermeasures.
Keywords: A Shares; Bear tyrants the world ; Problem; Countermeasure